Brazil chemicals producer Oxiteno buys specialty chemicals plant in Pasadena, Texas; will retrofit facility to produce 32,000 tons/year of specialty surfactants, starting in 2013
April 9, 2012
– Oxiteno announces the acquisition of a specialty chemicals plant from Pasadena Property, LP. The total acquisition value is US$15 million, with no debt assumption.
The plant is located in Pasadena, Texas, one of the most important chemical hubs in the world, benefiting from attractive feedstock conditions, including competitive natural gas-based raw materials, and highly efficient logistics infrastructure. Oxiteno will retrofit the plant to its product line of specialty surfactants. The total production capacity will be 32 thousand tons per year and operations are expected to start in 2013.
"Oxiteno is fully committed to the Americas market and feels this acquisition offers an excellent opportunity to expand our international reach," stated Mr. Joao Parolin, CEO of Oxiteno. The addition of this manufacturing site is part of a continuing North American investment strategy begun by the 2003 and 2004 acquisitions of manufacturing facilities in Mexico and the opening of Oxiteno's first U.S. commercial office in 2007, located in Chicago.
Through this acquisition, Oxiteno will increase and strengthen its position in the Americas as a surfactants and specialty chemicals producer servicing the home & personal care, agrochemicals, coatings and industrial markets. The existing Pasadena site infrastructure will allow Oxiteno to use it as a platform for future expansions in the U.S., which is the largest surfactants market in the world.